We have not seen a great deal of movement out of this pair as of yet this week, and although data is light for the U.S. today, we do have an FOMC member speaking later today; I will be watching for hawkish tones. We are aware that FOMC member Kashkari is quite dovish, however the same is not to be said as of yet for the other memebers; thus should we experience hawkish tones today, this pair may catch a boost up to the 113.00 mark.

USD/JPY daily chart

Price has found support around the 112.50 area, which is also around MM2, a bullish entry zone, as well as previous support. We have an oversold daily stochastic, and thus I anticipate a potential cross to the upside.

USD/JPY h4 chart

Price has bounced and held as support around the 112,50 mark, which is also WM2; a bullish entry zone, as well as previous support, I shall be looking for a retest of this psyche number for an entry.

USD/JPY h1 chat

Price has come off Ds1 and is now retracing from Dr1; I will look for an entry around the Dm2 mark, which is also previous support, it is a bullish entry zone ( with target of dm4), it is also the 61.8 fib level shown on the chart, as well as it being the 112.50 psyche number.

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